Why LianBio Stock Is Ripping Higher Today

LianBio (NASDAQ: LIAN) shares are trading higher Tuesday after the company announced an agreement with Bristol Myers Squibb (NYSE: BMY) to purchase LianBio's exclusive rights to develop and commercialize mavacamten in mainland China, Hong Kong, Macau, Taiwan, Singapore and Thailand.

The Details:

Under the terms of the agreement, LianBio will receive a one-time payment of $350 million. The agreement also releases LianBio from payment obligations of up ...

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